The total cryptocurrency market capitalization (TOTAL) and Bitcoin (BTC) have slightly declined in the last 24 hours, indicating a pullback from investors after recent gains. Among altcoins, Audiera (BEAT) recorded the largest drop, with a decrease of 15%.
In the news today:
Fold Holdings announced its integration into the Russell 2000 index on December 22, a significant milestone for this financial services company specializing in Bitcoin. The company holds over 1,500 BTC and offers consumer-oriented products, including the Fold app, a debit card, and Bitcoin reward cards.
A conflict that has lasted for years in a rural area of Texas highlights the anger of residents towards a neighboring Bitcoin mining farm, due to persistent noise disturbances. Locals accuse MARA Holdings' operation in Granbury of disrupting their daily lives, while the company claims to operate legally and has invested in noise reduction measures.
The crypto market misses its goal
The total market capitalization of cryptocurrencies has decreased by $24 billion over the last 24 hours, settling at $2,940 billion. Despite this retreat, it remains above the support threshold of $2,920 billion. This level is crucial for maintaining stability in the short term amid caution in the markets.
Macroeconomic conditions fuel the risk of decline. The TOTAL index fell after briefly approaching the $3,000 billion mark during trading. A decisive break below $2,920 billion would weaken the market structure and favor a slide towards the support area of $2,850 billion.
Seasonal factors could influence the recovery as the return of confidence around Christmas could attract new investments. If buyers manage to stay above $2,920 billion, the total could rebound and test the $3,000 billion mark again. A successful return to this level would reflect a renewed confidence across the entire crypto market.
Bitcoin oscillates around a key support
Bitcoin continues its consolidation around the pivot of $88,210, oscillating near this key level for nearly ten days. At the time of writing this article, the price of BTC stands at $87,896. This prolonged movement within a narrow range reflects market indecision, as investors await clearer macroeconomic and seasonal guidance.
The risk of decline persists if investors reduce their exposure before the holidays. An increase in sales could exert downward pressure on Bitcoin. In this case, the token could slide towards the support at $86,247, and a sharper decline could expose the level of $84,698.
Here too, a renewed appetite for risk during the holidays could spark new buyer interest. If Bitcoin manages to stay above $88,210 as support, its price could progress towards $90,308 in the short term.
Midnight slides from its ATH
NIGHT was among the best-performing cryptos last week after reaching a new ATH. However, its momentum has slowed in the last 24 hours, with the token retreating by 15.4%. This pullback reflects more profit-taking than a true trend reversal, and general interest in this altcoin remains high.
The recent pullback has pushed the price of NIGHT below the support threshold of $0.100, with its price now around $0.095. Under current conditions, the downside potential appears limited. If selling pressure intensifies, Midnight could test the support of $0.075 again, a level that previously attracted strong interest from buyers.
The potential for recovery remains intact. A successful rebound above $0.100 would restore a bullish structure. If momentum rebuilds, NIGHT could test the $0.120 threshold. Sustained buying could lead to a new breakthrough, paving the way for a new all-time high close to $0.150.
